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The current trading price of Bitcoin hovers around $1082, nearing a key support level. This price level suggests significant selling pressure in the market while also indicating that a potential rebound opportunity may be on the horizon. The technical indicator MACD is currently still in the negative range, reflecting that the recent downward trend is ongoing. However, it is worth noting that the distance between the two lines of the MACD is gradually narrowing, which may indicate that a bullish crossover is about to form, possibly leading to a trend reversal in the short term.
From the price structure, the main resistance range above is between 1085 and 1098 dollars, while the strong support level is around 1071 dollars. As long as Bitcoin can hold the key support level of 107k dollars, we may see a rebound in the short term.
Investors should closely monitor the changes in these key price levels and technical indicators. If Bitcoin can break through the upper resistance, it may attract more buying pressure, driving prices further up. Conversely, if the support level is breached, it could trigger a new wave of selling. In the current market environment, it is crucial to remain vigilant and adjust trading strategies as needed.